The Securities and Exchange Commission (SEC) extension office here has welcomed the partnership with a mobile payment firm for expediting transaction of registrations and other service fees.
Frederick A. Enopia, director for SEC-CDO, said the inclusion of GCash by clients to pay registration and other fees can translate to a more efficient collection.
“This is a milestone for us considering that GCash is undeniably common to people today and is a very convenient platform for our clients who would like to pay their transactions through the service," Enopia said in a statement Thursday.
With GCash being an additional option for payment under Electronic System for Payments to the SEC (eSPAYSEC), Enopia said clients should print out their GCash receipt since it will be required as an attachment to their application as proof of payment.
SEC-CDO clients may access the eSPAYSEC through the SEC’s website.
Other online payment channels that are accepted by eSPAYSEC include debit and credit cards powered by Visa, Mastercard, and JCB, as well as PayMaya wallets.
SEC Chairperson Emilio B. Aquino said adapting to online payments is proof of the public’s readiness to adapt to digital solutions when they are available.
It also strengthens the agency’s commitment to its digital transformation initiatives to improve the ease of doing business for Filipinos, he added.
“It has only been a year since we rolled out the eSPAYSEC, but it has already become a preferred payment option for the transacting public because of the convenience and security it offers,” Aquino added.
Launched on March 1, 2021, the eSPAYSEC is a web-based system that allows for the payment of fees and penalties to the Commission online using debit and credit cards, digital wallets, and other cashless payment options.
On a national scale, the online payment portal has managed to collect fees and penalties amounting to PHP202.32 million from a total of 29,565 transactions as of June 8, 2022.
Of the total amount, PHP99.57 million was recorded in 2022, which is bound to surpass the PHP102.75 million collected online in 2021.
Source: Philippines News Agency